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3 years ago

The appropriate cost accounting system to use when inventory items are produced on an assembly line is

Business

1 answer:

nika2105 [10]3 years ago

8 0

Answer:

Explanation:

The weighted average method is used to assign the average cost of production to a produce. Weighted average used in situations where:

Inventory items are similar to each other and its is difficult to assign a cost to an individual unit of a production line.

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3 years ago

In addition to the following closing costs listed below, the buyer pays a realtor commission that is 3.5% of the loan amount. Cl

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A customer is interested in purchasing new furniture for their living room. Using a mobile phone, the customer opens a special a

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2 years ago

At December 31, 2019, Skysong Corporation had the following stock outstanding. 10% cumulative preferred stock, $100 par, 108,966

Fittoniya [83]

Answer:

Earnings per share from continuing operations is $3.41 per share.

Earnings per share from discontinued operations is -$0.53 per share.

Explanation:

The earnings per share data can be computed by preparing a partial income statment as follows:

Skysong Corporation

Income Statement (Partial)

As at December 31, 2019

<u>Particulars Amount ($) </u>

<u>Continuing operations</u>

Income from continuing operations before taxes 22,887,900

Taxes on continuing operations (22,887,900 * 35%) <u> (8,010,765) </u>

Income from continuing operations after taxes 14,877,135

Preferred dividends declared <u> (1,089,660) </u>

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<u>Discontinued operations</u>

Discontinued operations (loss before taxes) (3,284,900)

Tax benefit on discontinued oper. (3,284,900 * 35%) <u> 1,149,715 </u>

Discontinued operations (loss after taxes) <u> (2,135,185) </u>

<u>Earnings per share:</u>

Continuing operations (13,787,475 / 4,044,060) 3.41

Discontinued operations (2,135,185 / 4,044,060) (0.53)

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3 years ago

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Answer:

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3 years ago